Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Notes, Coins to Have Separate Space in Currency Chests Now

The currency chests that do not have sufficient storage space inside the vault to segregate storage of coins, may continue to store the coins under CCTV coverage, in a manner so that notes and coin spaces are clearly identifiable.

PTI

Updated:February 28, 2019, 8:28 PM IST
facebookTwitterskypewhatsapp
Notes, Coins to Have Separate Space in Currency Chests Now
Image for representation (Photo: Reuters)
Loading...

Mumbai: The Reserve Bank of India (RBI) on Thursday asked banks with large currency chests to have separate storage space for coins and notes to beef the security.

In October 2016, RBI had set up a committee on currency movement (CCM), under the chairmanship of its executive director D K Mohanty to review the entire gamut of security of treasure in transit.

The committee recommended the steps for relating to standardisation of storage facilities in currency chests. RBI has examined the recommendations and have asked banks to implement them.

"The currency chests (CCs) having large vault space shall consider segregation of storage of coins inside the vault duly segregated by mesh structure or barricades without obstructing clear view and CCTV coverage," RBI said in a notification.

Those currency chests that do not have sufficient storage space inside the vault to segregate storage of coins, may continue to store the coins under CCTV coverage, in a manner so that notes and coin spaces are clearly identifiable.

The central bank asked banks colour code their bins for identification of denomination details and clear segregation of fresh, re-issuable and soiled notes.

The bins containing notes that are yet to be processed on note sorting machines (NSMs) shall also be colour coded separately, it said.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,210.75 -1.21
BPCL 380.00 -6.99
Maruti Suzuki 6,412.75 -0.58
Yes Bank 67.05 -2.19
HDFC 2,046.75 -1.78
Company Price Change %Gain
Kotak Mahindra 1,483.55 0.00
HDFC Bank 2,256.25 0.00
Biocon 232.55 0.00
HDFC 2,085.65 0.00
Graphite India 311.70 0.00

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results